DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has concluded the 11th edition of the Dubai Precious Metals Conference (DPMC). The event was held in partnership with the UAE Ministry of Economy.

Held under the theme of “The Future of Precious Metals: Global governance to trade trends”, the event sought to identify the opportunities and mitigate any risks and challenges in the dynamic precious metals landscape. The event saw a range of industry experts tackle critical industry topics including “Governance and Responsible Sourcing”, “Global Trade and the Geopolitical Landscape of Gold”, “Market Trends” and “Climate Change”.

Conversations around supporting responsible sourcing practices globally were of a particular focus, with the Ministry of Economy’s UAE Good Delivery Standard playing a key role in enhancing this across the UAE – one of the world’s largest physical gold trade hubs. Discussions concluded that the continued shift towards the tokenisation of precious metals will both democratise them and increase transparency and traceability.

Hundreds of delegates from across the precious metals supply chain met with senior figures from industry bodies, traders, exchanges, refineries, tech companies, and regulators, including the World Gold Council, the UAE Ministry of Economy, London Bullion Market Association (LBMA), Organisation for Economic Co-operation and Development (OECD), the UN Group of Experts, CME Group, Botim, Sam Precious Refinery, and Istanbul Gold Refinery.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC: “This year’s Dubai Precious Metals Conference comes as stakeholders across the value chain are navigating an increasingly complex economic landscape.

We are seeing the highest pace of buying in decades and can expect another colossal year in 2024 with central banks continuing to stock up record gold reserves amid ongoing volatility, inflation and de-dollarisation. DMCC has yet again provided one of the best platforms for the world’s precious metals experts to explore the most significant issues affecting the markets.

It is imperative that we use the DPMC and the momentum achieved this week to advance multiple avenues, especially responsible sourcing, governance and technological adoption, and chart a path towards collective growth for industry.”